ML20044G500
| ML20044G500 | |
| Person / Time | |
|---|---|
| Site: | 07000036 |
| Issue date: | 05/28/1993 |
| From: | ABB COMBUSTION ENGINEERING NUCLEAR FUEL (FORMERLY, ASEA BROWN BOVERI, INC. |
| To: | |
| Shared Package | |
| ML20044G499 | List: |
| References | |
| NUDOCS 9306030212 | |
| Download: ML20044G500 (27) | |
Text
.
O Combustion Engineering, Inc.
Hematite Nuclear Fuel Manufacturing Special Nuclear Material License SNM-33 Decommissioning O
Funding Plan A ItIt M EDID O
ABB Combustion Engineering Nuclear Fuel 3886188c!73888826 C
\\
Table of Contents introduction 1-1 Scope 1-1 l
Facility Description 1-1 Release Criteria 1 -.
Decontamination Methodology 1-11 Low Level Waste
.1-12 1
Salvage 1-12 Estimation Methodology 1-12 Financial Assurance Methodology 1-13 O
necommissioning Cost Estimates 2-1 References R-1
-l
'l
. I i
Revision 0 i
May 28,1993
List of Fieures O
l-1) 11ematite Commercial Nuclear Fuel Manufacturing Facility 1-2 1-2)
Building 230 Detail 1-4 1-3)
Building 240 Detail 1-5 r
1-4)
Building 253 Detail 1-5 1-5)
Building 254 Detail 1-6 1-6)
Building 255 Detail 1-6 1-7)
Building 256 Detail 1-8 1-8)
Oxide Building Detail 1-8 l-9)
Production Buildings Relative Positions 1-9
)
List of Tables 1-1)
Decommissioning Release Criteria 1-10 2-1)
Cost Estimates Summary 2-2 2-2)
Man llours and Cost Summary 2-3 2-3)
Decommissioning Personnel Rates 2-4 2-4)
Radioactive Waste Cost Summary.
2-5 Revision 0 ii May 28,.1993
Introduction O
This Decommissioning Funding Plan is submitted in compliance with the provisions of 10 CFR 70.25 and contains the information required by 10 CFR 70.25 (e). This Plan contains a description of the facility, a summary of the criteria used to develop this Plan, and the decommissioning cost estimates for the facility, including considerations for periodic review of the cost estimates and, if required, the adjustment of funding levels over the life of the facility.
Scope This Decommissioning Funding Plan is for the Combustion Engineering, Inc. (C-E) Hematite Commercial Nuclear Fuel Manufacturing facility located on liighway P approximately 3/4 mile northeast of the unincorporated town ofIIematite, Missouri. This Plan includes buildings and land areas within the facility fence line as well as Building 101 (the Tile Barn) and Building 120 (the Wood Barn).
Facility Desarintion The C-E Hematite Commercial Nuclear Fuel Manufacturing facility is located in Jefferson County, Missouri, approximately 35 miles south of St. Louis.
The facility is operated under NRC License number SNM-33, Docket 70-36.
Activities at the C-E llematite facility involve producing low enriched (up to 5.0% 2"U).
ceramic fuel for light water reactors. Uranium hexaflouride is received from enrichment facilities and converted to uranium dioxide powder using a dry fluidized bed conversion process. The uranium dioxide powder is pressed into fuel pellets and is either shipped offsite for further processing or loaded into fuel assemblies and shipped as completed fuel.
Manufacturing activities are carried out in several separate buildings at the site. (Figure 1-1 shows an overview of the manufacturing facility. Figures 1-2 through 1-8 show details of individual buildings. Figure 1-9 shows the relative positions of the production buildings.)
The following is a summary of the activities carried out in various site areas.
O Revision 0 1-1 May 28,1993
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l Building 230:
This building, also known as the Rod Loading and Bundle Assembly i
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Building, is used for fuel rod loading, fuel bundle hardware assembly, material storage, and shipping and receiving activities. Pellets packaged in Building 256 are stored in the Kardex unit located in Building 230. The pellets are transferred to stack and load tables where they are inserted into fuel rods, which are sealed and assembled into completed fuel bundles.
This building also houses the fuel rod salvage operations in which faulty or-defective fuel rods are unloaded and the pellets recovered. Additionally, Building 230 has a warehouse facility in which materials are stored and prepared for transportation. With the exception of the pellet area, the majority of this building is maintained as a clean area. (See Figures 1-1, 1-2, and 1-9.)
Building 240:
This building houses laboratory, maintenance, and production facilitics, as well as ofHees and a cafeteria. It is the site of recycling and recovery operations, the purpose of which is to reclaim and reuse discrepant uranium dioxide from the manufacturing process. Several utility and support tanks and vessels associated with production and recovery operations are also located in building 240. Additionally, this building houses the incinerator /
scrubber system. The incinerator / scrubber system is used to reduce the volume of low level uranium contaminated wastes. Building 240 also has.
areas designated for material storage. (See Figures 1-1,1-3, and 19.)
O Buiiding 253:
^i o known ae the uiiiity Buiidins. this area houses the site steam suprix equipment. It is also the site of SNM storage (recycle oxide powder is accumulated in pails in Building 253 and is periodically emptied into a recycle hopper), recycle blending operations, and offices. (See Figures 1-1, i
1-4, and 1-9.)
Building 254:
This area is used for uranium dioxide storage, blending, and pellet pressing operations. Uranium dioxide powder is received here from both the virgin oxide hoppers in the Oxide Building and the recycle hoppers in Building.
253. The oxide powder is then milled, blended, and pressed into pellets on one of the two pellet lines located in the building. The pressed pellets, known as green pellets, are then dewaxed and sintered to achieve ceramic properties. Finally, the pellets are ground to assure uniform diameter, inspected, and packaged for either shipment or further processing. -(See Figures 1-1,1-5, and _l-9.)
Building 255:
This building, also known as the pellet plant, is used for powder preparation ~
and pellet production activities similar to those described for Building 254 above. Additionally, milled and blended UO powder awaiting further 1
2 I
processing is stored on one of the product storage roller conveyors located' along the north side of Building 254, while agglomerated press feed material in metal buckets is stored'on a steel mezzanine above the O
converors. (See Fiyurcs i-i, i-6, and i-9.)
Revision 0 13 May 28,1993'
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4 Building 256:
This area serves as a pellet drying and inspection area as well as a pre-Q' transportation preparation and packaging area. Pellets arrive in Building 256 on transfer / storage carts and are weighed, dried, and packaged in shipping containers. (See Figures 1-1,1-7, and 1-9.)
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Oxide Building: This building is the location of operations to convert UF. to UO, as well'as 2
the receiving site ofincoming UF, shipments. The UF, is received in two and one half ton cylinders and is connected to the conversion equipment.
The conversion process involves vaporizing tlie UF., scrubbing the vapor, and passing it through a series of three reactor vessels. Hot, dry UO2 powder emerges from the last reactor vessel and is transferred pneu- _
matically to inprocess storage vessels. It is from these storage vessels that the UO, powder la dispatched to Building 254 or 255 to be fabricated into pellets. (See Figures 1-1,1-8, and 1-9.)
- 3 Ancillary Areas: This category is limited to small buildings and land areas within the facility-fence line, but not listed above, Building 101 (the Tile Barn), and Building 120 (the Wood Barn). No activities are planned for areas where materials were disposed ofin accordance with the provisions of the former 10 CFR 20.304. Costs listed in the following sections of this Plan include activities
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required to decontaminate these areas to meet the criteria listed in Table
' i 1-1.
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Release Criterir.
Cost estimates in this Plan are based on the assumption that facilities, equipment, material, and land areas will be released from regulatory control and made available for unrestricted use l
when residual contamination meets the criteria specified in Table 1-1.
Table 1-1 f)ECOMMISSIONING RELEASE CRITERIA Following are the release criteria to which areas within the scope of the project will be decontaminated. Ensuring that contamination is at or below these levels is sufficient to demonstrate that the health and safety of the public and the environment is protected and that no use of other risk assessment methodology shall be required; Meeting these criteria will demonstrate that the included areas have been successfully decontaminated and are available for unrestricted use.
Catecorv Limit
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2 Average Fixed Surface Contamination 5 5,000 dpm a/100 cm above background 2
Maximum Fixed Surface Contamination 515,000 dpm a/100 cm above background i
Average Residual Soil Contamination '
s 30 pCi/ gram above background Exposure Rate at One Meter From Surfaces 5 5 pR/h above background i
Notes:
1)
This limit wi.Il also apply to other materials discovered to be volumetrically contaminated j
i i
O Revision 0 1-10 May 28,1993
Decontamination Methodoloey Cost estimates are also based on the assumption that decontamination tasks will be completed using methodologies drawn from the following listing:
1)
Iland Wiping: It is anticipated that the majority of the contaminated equipment and materials will be cleaned using hand wiping. This will involve cleaning equipment, structure, and/or material surfaces manually using rags and/or abrasive pads and a cleaning solution such as Alconox or similar. Decontamination solutions will be carefully selected to ensure that mixed waste is not generated. This method has been selected because it is a simple and effective method for routine decontamination tasks and personnel are easily trained to safely use this technique. Rags used in these operations may be laundered and reused.
2)
Hydrolasing: This methodology is an available option for removal of widespread areas of loose surface contamination. This method will only be utilized in an enclosed area that is set up specifically for hydrolasing. Specific allowances will be made for the i
recapture and recycling of contaminated water.
l 3)
CO: Cleaning: This technology is an available option for surface cleaning by means of tiny, solidified pellets of CO. The pellets sublimate when contacting the surface of 2
the contaminated material, in effect sweeping the contaminants off the surface in a rush of gaseous CO. The gaseous CO is then collected by a suction line and passes O
through a IIEPA filter. Advantages to this process include its effectiveness at cleaning 2
2 intricate surfaces, its lack of physical surface damage, and its lack of secondary radioactive waste generation.
4)
Strippable Paint: This material, commonly used in nuclear power plants, may have some applicability in two areas. First, it may be used to provide a removable, protective coating over decontaminated areas remaining in the vicinity of ongoing i
decontamination work. Second, it may be utilized to perform actual decontamination tasks on large smooth surfaces such as metal sheets or similar. If used, it is intended that, following its removal, the paint may be incinerated in an approved facility, thus reducing radioactive waste burial volumes.
5)
Soil Removal: Soils with contamination exceeding the values in Table 1-1 will be removed and transported to an approved disposal facility. Soils that are excavated may be further segregated and/or categorized to separate soils that are free releasable from soils requiring disposal. Additionally, soils may be cleaned of contaminants where practical.
6)
Abrasive Media Cleaning: This process utilizes either sponge-like material, sand, or grit accelerated by high pressure air to effect controlled decontamination of contaminated surfaces. These media have the advantage of being reusable. When O
Revision 0 1-11 May 28,1993 n
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exhausted, the sponge material may be incinerated in an approved facility, resulting in O
reiativeiy man voiume ofiow icvei waste. The sand and/or grit wiii be disposed of as low level radioactive waste if it exceeds the criteria listed in Table 1-1.
7)
Material Surface Removal: In cases where hand wiping or other surface cleaning methods are insufficient to remove contaminants present, removal of material sarfaces may be required. For tools, equipment, and other metal objects, grinders may be utilized to remove contaminants that would otherwise be considered fixed contamination. This will avoid the necessity of disposing oflarge inventories of l
materials as radioactive waste. For contaminated structural materials such as concrete floors and walls, scabblers and scarifiers rnay be utilized to remove contaminated i
surfaces from those materials. To the extent practical, engineering controls will be used to reduce aerosols that can result from scabbling and/or scarifying operations.
Scabbling has been proven successful in a number of areas and buildings during recent decontamination projects.
I,ow I evel Waste Cost estimates for low level waste disposal included in this Plan are based on the assumption that contaminated soils will be packaged and shipped to an approved low specific activity disposal facility and that contaminated scrap material is shipped to an approved waste processing facility.
i O
saivaec The salvage value of plant materials and/or equipment has not been considered in this Plan.
i i
Estimation methodoloev i
in generating the cost estimates provided in the following sections, plant buildings were f
broken down into separate areas or rooms. The volume and/or dimensions of equipment, j
structures, and materials within those areas and rooms were physically measured. These measurements were used to estimate the volume of low level waste that can be expected from decommissioning. The same measurements were used to estimate the duration of dismantling and decontamination operations that will be required to complete decommissioning. The j
estimates take into account waste reduction ope.ations that will be undertaken during decommissioning.
For the purposes of these estimates, it has been further assumed that loose surface contamination on floors, walls, ceilings, and miscellaneous other surfaces will be removed and that fixed contamination in the floors will be scabbled off.
j Cost items shown related to removal of soils are based on the assumption that the total amo mt of volumetric waste in excess of the criteria specified in Table 1-1, including O
1 Revision 0 1 12 May 28,1993 l
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contaminated soils, amounts to approximately 50,000 cubic feet. This volumetric waste is O
compri8ed crimariir or soiis and ruddie conteinina iow concentrations oriow specific activity contaminants. These soils originate from things such as miscellaneous site excavations, spent scrubber limestone, and retention pond soils. For the purposes of this Decommissioning Funding Plan, it has been assumed that the majority of these soils will be shipped directly to an approved low specific activity burial facility. It is likely, however, that through a judiciously applied segregation program the actual volume of soil requiring off site disposal could be significantly lower.
As can be seen in Table 2-1, provisions have been made to include generous contingency funds in the cost estimates. Further revisions and refinements to the plan that may more accurately define the cost estimates may also result in reduction of associated contingency funding.
Estimates provided in this Plan are shown in 1993 dollars.
Financial Assurance Methodology 10 CFR 70.25(e) requires that a description of the method of assuring funding for decommissioning be contained in each decommissioning funding plan. Combustion Engineering continues to use the surety method permitted by 10 CFR 70.25(f)(2), and previously presented to the NRC via Reference (4) as executed originals of a Payment Surety Bond and Standby Trust Agreement.
The attachment to this Decommissioning Funding Plan provides an appropriately executed rider to the existing bond, as submitted to the NRC via Reference (4), increasing its limit from $750,000 to $10,000,000. This amount is based on, and is consistent with, the cost estimates for decommissioning provided in this Plan.
The estimates provided in this Plan will be reviewed at the time of each license renewal application and updated as required.
3 1
0-Revision 0 1-13 May 28,1993
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Decommissioning Cost Estimates O
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Revision 0 2 1-May 28,1993
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w TABLE 2-1 COST ESTIMATES
SUMMARY
SAFETY EQUIP.
LABOR LLW PROCESSING, BURIAL LOCATION AND SUPPLIES COST AND SURCHARGES TOTAL ADMINISTRATION
$844,000
$844,000 BUILDING 230
$101,915
$101,915 BUILDING 240
$194,881
$194,881 BUILDING 253
$66,491
$66,491 BUILDING 254
$358,289
$358,289 e' 2 BUILDING 255
.$258,756
$258,756 BUILDING 256
$36,116
$36,116 OXIDE BUILDING
$110,093
$110,093 ANCILLARY AREAS
$338,907.
$338,907 j
SUBTOTAL
$450,000
$2,309,447
$5,181,500
$7,940,947 CONTINGENCY
$112,500
$577,362
$1,295,375
$1,985,237 TOTAL ESTIMATED COST ~
$562,500
$2,886,809
$6,476,875
$9,926,184
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TABLE 2.2 MAN HOURS AND COST
SUMMARY
HP CRAFTS &
HEALTH TOTAL TOTAL O
TASK CLERICAL ENGINEER TECHNICIAN LABOR PHYSICIST HOURS COST
- i 1 ADMINIST RATlON Planning & preparation 500 1.000 1,000 2.500
$102.000 i
I Administ'aton &
Proiect Management 6 000 8 000 6000 20 000
$742 000 TOTAL 6.500 9.000 7.000 22.500
$844.000 2 BUllDING 230 Removal & Dismantle Equipment & (,omponents 542 2 169 2,711
$64 528 Scabbie floors &
Decon walls & ceiling 74 297 371
$8.836 Venfication Surveys 921 921
$28 551 TOTAL 0
0 1,538 2.466 0
4 004
$101,915 3 BUILDING 240 Removal & Dismantle Equipment & Components 1,101 4 406 5.507
$131,067 Scabble floors &
Decon waps a ceAng 375 1 500 1 875
$44 625 Venfication Surveys 619 619
$19189 TOTAL 0
0 2 095 5.906 0
8 001
$194.881 4 BUILDING 253 Removal & Dismantie Equipment & Components 248 991 1.239
$29.491 Scabble floors &
Decon walls & ceiling 208 830 1.038
$24,693 Venfication Surveys 397 397
$12.307 TOTAL 0
0 852 1 821 0
2.674
$66 491 1
5 BUllDING 254 Removal & Dismantle Equipment & Components 2 376 9 504 11,880
$282,738 i
Scabble floors &
Decon walls & ceiiing 467 1.869 2,336
$55.603 Venheation Surveys 644 644
$19.949 TOTAL 0
0 3 487 11.373 0
14.860
$358.289 6 BUILDING 255 Removal & Dismantie Equipment & Components 1 652 6 609 8.261
$196 606 Scabble floors &
Decon walls & ceiling 379 1517 1.896
$45.131 Venhcation Surveys 549 549
$17,019 TOTAL 0
0 2.580 8.126 0
10,706
$258.756 7 BUILDING 256 Removal & Dismantle Equipment & Components 211 845 1,056
$25139 4
Scabble floors &
Decon walls & ceihng 49 196 245
$5 831 VenficaSon Surveys 166 166
$5146 TOTAL 0
0 426 1.041 0
1,467
$36.116 8 OXIDE BUILDING Removal & Dismantle Equipment & Components 726 2 904 3.629
$86 379 Scabbie floors &
Decon walls & ceiling 145 591 726
$17,285 Venfication Surveys 207 207
$6 429 TOTAL 0
0 1.079 3 485 0
4.563
$110.093 9 ANCILLARY AREAS Removal & Dismantle -
Equipment & Components 2 256 9.024 11.280
$268,452 F
Scabble floors &
Decon walls & centing 41 162 203
$4.820 Venhcation Surveys 908 908
$28,136 Soit Hemediation 500 1 000 1 500
$37 500 TOTAL 0
0 3.704 10.186 0
13.890
$338.907 TOTAL 6,500 9,000 15,761 44,402 7,000 82,664
$2,309,447 Revision 0 2-3 May 28,1993 J
O Table 2-3 DECOMMISSIONING PERSONNEL RATES CLASSIFICATION
$/ HOUR Project Manager
$51.00 Decontamination Technicians Supervisor
$34.00 Senior
$23.00 Junior
$21.00 Health Physics Technicians Supervisor
$39.00 Senior
$31.00 Junior
$23.00 Health Physicist
$47.00 Engineer
' $50.00 l
O ciericai S o.oo Labor
$22.00 Craft
$35.00 Note: wage rates include all overhead expenses O
Revision 0 24 May 28,1993
O O
O s
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TABLE 2.4 RADIOACTIVE WASTE COST
SUMMARY
CONTRACT (1)
BURIAL NO. OF B-25 BURIAL WASTE TYPE PROCESSING (Cu. Ft.)
CONTAINERS COST ($/cu.ft.)
TRANSPORTATION TOTAL EQUIPMENT &
STRUCTURAL MATERIAL S3,036.500 7,288 73 (2)
$20,000
- $3,056,500 SOILS & SLUDGES 50,000 500 S40
$125,000 -
$2,125,000 14 6.
TOTALS
. $3,036,500 -
'57,288
-573
'So
'!$145,000 i
$5,181,500 t
- 1. $125/FT-3
- 2. Included in contracter processer fee t
t Gi
- i 8
2.
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O References o
l O
Revision 0 R1 May 28,1993
References 1)
USNRC Regulatory Guide 1.86, " Termination of Operating Licenses for Nuclear Reactors", June,1974.
2)
" Guidelines for Decontamination of Facilities and Equipment Prior to Release for Unrestricted Use or Termination of Licenses for Byproduct, Source, or Special Nuclear Material". USNRC, Division of Industrial and Medical Nuclear Safety, August,1987.
3)
USNRC Branch Technical Position: " Disposal or On-Site Storage of Residual Thorium or Uranium", (NRC, 1981, 46FR52061).
4)
Letter, J. F. Conant (C-E) to C. J. Haughney (NRC), LD-90-050, dated July 19,1990.
O O
Revision 0 R-2 May 28,1993
Enclosure II M L-93-018 RIDER TO INCREASE SURETY BOND i
TM"?7 CHUBB GROUP OF INSURANCE COMPANIES
%i be hk sd C!-iUCC m r-
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M.
FEDERAL INSURANCE COMPANY RIDER to be attached to and form a part of Bond No. 8126-70-41 wherein FEDERAL INSURANCE COMPANY is named as Surety, on behalf of Combustion Engineering, Inc. as Principal, in favor of U.S.
Nuclear Regulatory Commission as Obligee, in the sum of $750,000.00 dated May 24, 1990, effective May 24, 1990 IT IS HEREBY UNDERSTOOD AND AGREED that effective the 31st day of May, 1993 the penalty of this bond is INCREASED FROM:
Seven Hundred and Fifty Thousand and 00/100--------------
Dollars
($750,000.00)
TO:
Ten Million and 00/100-------------Dollars
($10,000,000.00)
Provided, however, that the liability of the Principal and Surety hereon shall not be cumulative or in any event exceed the larger amount referred to herein.
The attached bond shall be subject to all its agreements, limitations and conditions except as herein expressly modified.
Signed, sealed and dated this 3rd day of May, 1993.
COMBUSTION ENGIN ERIllG, INC.
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Wb By:_
1 FEDERAL INSURANCE COMPANY 1
By:
Sarah E.
Drubacher,
{
Attorney-in-fact i
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s POWER OF ATTORNEY Know all Men by these Presents. That the FEDEAAL INSURANCE COMPANY,15 Mountain View Road, Warren, New Jersey, an indiana Corporation, r
has constituted and appointed, and does hereby constituto and appoint David B. Norris, Jr., Richard G. Hight, Greg Kuruvilla Tammy B. Noren, Barton S. Pitts, Sarah E. Brubacher, Patrick P. Campo Anna Maria Lovecchio, Maria Scardigno, Helen Brown and Earnestine Porter of New York, New York-etch its true and lawful Attomey-in-Fact to execute under such designation in its name and to affix its corporate seat to and deliver for and on its behalf as sursty thereon or othervnse, bonos or obligations (other than Ball Bonds) given or executed in the course of its business, and any instruments amending or sitanng the same, and consents to the modification or alteration of any instruments referred to la said bonds or obligations.
in wnnen wh.eef, me med erorna misunANet comem ha.,,suem io a artews. uond m-e Powma = t. egned my a vce Prue.m and Am wm s.emny and u emporem med
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24th afd August 92 corporew seal
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. D.on Puchard D or,ormar vise Praeteent A-===t no-a-y stats or new Jeesty i
County of Somerset onom 24th doy e August is 92
, os e e,e, son., ome n n.d D. o conn...no ano.ro and e me =nown. A w secrm y e en rameau si r
cunAmes confPANY, We corporesen descreed in and whch pecuted De twegomg Poww of Anonwy, and We med ached D. O'Connw eseng try me duly swam, ed deoose end eey put fu a Assesent secrmen of the PEDERAL INSURANCE ConSPANY and knows the corporate sealInereof; that the easd afhmed to De foregoing Power of Annmey a such corpmem emel and ures thereto othmed try authority of the sy4een.
of and Conipeny and that he egned and Power of Anomey se Asentant Secretary of easd Conveny try hhe aumomy; and that he te scousented with James D Duon and knose been to tie the Vise Praessent o e d company. ed set we egnetwo of sad Janvae D. Dwan subscrewd to end Poww of Anonwy a m we genume handmiteng of med James D. Dmon and wee pureto euescreed try authorey of med sy4een and m deponent's presence-nacenet some
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. No.3086520 commissionaspisesosastes tsu e
NOTARIAL ACKNOWLEDGEMENT CITY, COUNTY & STATE OF NEW YORK, as 3rd May 93,,,,,,,,,,,,,,,,,,,,,y,,,,,,
Sarah E. Brubacher o,,,,,
m me known. wew. os.no t,y n Guer esorn, ed deoese and my met = m en Anomer + Fact of om recenAL =ae"=aaarw con PANY, the corporaten esecreed m and whum onecuted the annomed metrumorst thet he knows Fw corporate seal, that a wee en afhaed IPy Dreer and authonly of the acord of Deectors of easd corporesen, or inet he egned les name # wrote ey hne order and sulhority-i swom = and _
I me on the date atowe emneft
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Notary I'ublic S ce of New York NO. 31-4582129 yu..a penn isto.oida tae. var utte spec se OVER QualiGed in New York County Comminion Expires December 31,1994
~~
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i CEaTIFICATioN ETATE oF NEW JERSEY County of Somerset I, the underegned. Assetant secretary of the FEDERAL INSURANCE CoWPANY,00 hereby certify that the loitowmg a a true sacerpt from the By-Lews os the sad Company as adopted by ses Board of orectors on March P.19e0 and Ihat the By-Law e en fut force ano effect
" ARTICLE rvill i
secuan 2 As bonds, uncertamos, comracts and omw metruments other than as abow for and on behaN of We Company whch N m eumonrad Dy few or e chans to pecute, may and shan be pecuted I
e me name and on twharf o we company enne by me cherman or the vce chmnan or me Prnoem or a vce Present somtiy wnh me secretary or an Aasiam secretwy, unde ther respectne s
da,nw.ons. nc pi v.i an, one w mm onen w anomers.m.vaci dugnad e any ruosunon of== sand of Detectors or in. Encuna commma. or m any me or enorney pecumd as on=ed for m section a betoe. may esecule any such bond, undertamme or other obigatiori as proveed in so.h reso6utaan or power of attorney secnon a As powers of anomey for and on tehan of the comany may and snan be necumd m tre name and on t=han of me company. emer by em Cheeman or we vice Chasman or the Preemm of a vce Preesdent or en Asestant Vn Pressaient Jorey wim tre secretary or an Asastant secretary, under tnew respectwo cessgrahans The egnature of sucti offuers trisy be engrowed, prmied or hthographed The segnature of each of Nw 10Nowmg o%ces Cherman. Vce Ch8Whan, Preemm. any Vce Pres @nt any Assstam Vce Prudent any s@CMary, any Assa ant secreary and the ami of ife Company may be anmed by taes me in any poww at anomey or in any evntcan renung mmto apoomemo Austant secretanes or Anomeys-erdact tar purposes oniy or nacunng and anesting bonds and undenen.
mes and amm wntage on69aiory a the naure thwoof and any suen pone of attamer or cwtifem beanno such leemmine senature or racseme semi shan te vaid and emomo upon the company and any suen power so sneeumd and owined by auen tacaimin senaium and te:smwe was anan te vand and techne upon ow company weh respect to any bond or undenanmo to whch n is anached "
I turther coatdy that and FEDERAL INSURANCE ColdPANY m duly bconsed to transact fdehty and surety busmosa in each of the $ sales of the united state 1 of Amerca. Destnct of Columbia, Puea Rco, and each of the Prowmcos of canade with the excephon of Pnnce Edward Island. and e amo duly bcensed to become sole surety on bonds, unoeriammps. etc., permmed or required by low
- l. the undersoned Aasatant secretary O' FEDERAL INSURANCE CoesPANT do hereby certtfy that the foregomg Power of Aftomey e in fur force and eflect.
3rd May 93, Gewen unoer my hand and the seal of naad Company at Warren. NJ, mes corp-am s.ar
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l Financial Statement of Federal insurance Compan as of December 31,1991
- = -
IN THOUSANDS OF DOLL RS
- v#%DIA14~*
}
STATUTORY BASIS J
LIABILITIES AND ASSETS SURPLUS TO POLICYHOLDERS Unned States Treasury Bonds.
$ 282,262 Outstanding Losses and Loss Expenses.
53,175,049 United States Goernment and Federal Uneamed Premiums.
897.659 Agency Guaranteed Bonds.
276,399 Accrued Expenses.
87.700.
State and Municipal Bonds 2,504,531 Non4dmitted Reinsurance.
37,713 Other Bonds.
327,922 Dividends Payable to Poheyholders.
24,287 Common Stocks,
431,494 Loss Portfoho Transfer (150,420)
Preferred Stocks.
17,982 Other Liabilities,
170.898 Other invested Assets.
135,293 Short Term investments 36,848 Real Estate 23.884 Mortgage Loans 8.360 TOTAL INVESTMENTS 4,044,975 TOTAL LIABILITIES.
4.242,886 investments in Affiliates:
%gilant insurance Company ~
237,865 Capital Stock,
13,987 Great Northern insurance Company 82,604 Paid.in Surplus.
472,986 Pacific Indemnity Company 389,790 Benemead Development Corporatirm.
401,471i Unassigned Funds.
767,742 C.C. Canada Holdings Ltd 97,413 Unrealized Appreciation of Investments 415,415 Other Affthates, 64,450 SURPLUS TO POLICYHOLDERS 1,670,130 Cash 24,501 Net Premiums Receivable 412,121 Reinsurance Recoverable on Paid Losses 20,042 Other Assets.
137,779 TOTAL LIABILITIES AND SURPLUS TOTAL ADMITTED ASSETS.
$5.913.016 TO POLICYHOLDERS.
$5.913.016 investments are valued in accordance with requirements of the National Association of insurance Commissioners.
Investments valued at $15,657 are deposited with government authonties as required by law.
PsWTED U$a
..